A new low-cost housing scheme on the Thames waterfront at Blackwall due to be ready later this year is being aimed at east London’s growing cycling market.

The Jessops tower block scheme, part of Ballymore’s New Providence Wharf development, is being marketed by Genesis Homes with the cycling community in mind.

This follows an Office for National Statistics census indicating the number of Londoners cycling to work more than doubling between 2001 and 2011.

New Providence Wharf, in the shadow of Canary Wharf, is close to east London’s Cycle Highway passing through Poplar and Limehouse to the City and is near cycle hire-points.

“Its location is ideal for those who prefer to get around on two wheels,” explained Genesis Commercial Head Anthony Harker. “Santander plans to expand its cycle-hire network for more people to take advantage of this transport alternative.

“The cycle-highway is close-by and two cycle hire-points are within a stone’s throw, so the scheme is gearing up to be a ‘pedal-powered paradise’.”

The proximity to the ‘Boris bike’ expansion in Preston Way and Preston’s Road is part to the marketing strategy.

Apartments are also being marketed through a shared-ownership scheme by Genesis, the ‘affordable homes’ provider for the Jessops tower, to buy between 25 and 75 per cent of the equity, with subsidised rent on the remainder. Buyers can increase their share at any time, up to 100pc and outright ownership.

The scheme is aimed at ‘first time’ buyers with yearly household incomes below £71,000 and priority given to those living or working in Tower Hamlets.

Prices start at £93,688 for a 25pc share of a one-bed flat, based on a full market value of £374,750. The one-bed and two-bed apartments have fitted kitchens with integrated appliances including dishwasher and washing-machine and granite worktops, and bedrooms with full-height windows and balconies.

But for those “less inclined to cycle” there is also public transport close by, the marketing team points out, such as Blackwall DLR just a few minutes’ away.

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